Interest fee

CIBC Announces Fee Structure Changes for Imperial Pools and Income Generating Portfolios

TORONTO, March 25, 2022 /CNW/ – CIBC (TSX: CM) (NYSE: CM), as manager, today announced a change to the fee structure for the Imperial Portfolios and the Income Generating Portfolios (each, a “funds“and collectively, the”funds“) listed in Appendix A of this press release.

Effective July 1, 2022, the funds will no longer be responsible for paying certain costs that are currently classified as operating expenses. There is no impact for unitholders regarding this change.

Benefits to unitholders include protection against potential increases in certain future operating expenses. Before applicable taxes, the MER for each class of each fund should also be less than or equal to the most recently published MER. The Funds’ Independent Review Committee has reviewed the introduction of a change to the fee structure with respect to potential conflict of interest issues and issued its positive recommendation, having determined that the change to the structure fees achieves a fair and reasonable result for each fund.

Unitholders of the following classes of the funds do not need to approve the change to the fee structure. They will receive at least 60 days notice prior to the implementation of the change, in accordance with applicable securities laws:

Funds

Classes

Imperial pools and revenue generation
Wallets

Class A, Class W, Class T3, Class T4, Class T5,
and Class T6 Units.

Annex A

Imperial Pools

Imperial Money Market Fund

Imperial Short Term Bond Pool

Imperial Canadian Bond Pool

Imperial Canadian Diversified Income Pool

Imperial International Bond Pool

Imperial High Income Equity Pool

Imperial Canadian Dividend Income Pool

Imperial Global Equity Income Pool

Imperial Canadian Equity Pool

Imperial U.S. Equity Pool

Imperial International Equity Pool

Imperial Overseas Equity Pool

Emerging Economies Imperial Pool

Income Generating Portfolios

Conservative Income Portfolio

Balanced Income Portfolio

Enhanced Income Portfolio

About CIBC
CIBC is a leading North American financial institution with 11 million customers in retail, business, public sector and institutional banking. In the Retail and Small Business Banking, Commercial Banking, and Wealth Management and Capital Markets segments, CIBC offers a full range of advice, solutions and services through its leading digital banking network and locations across Canadain United States and around the world. Current press releases and more information on CIBC can be found at www.cibc.com/ca/media-centre

SOURCECIBC

For further information: Kira Smylie, Public Affairs, [email protected] or 416-980-2949